The combined data showed that the margin between official and parallel foreign exchange markets stood at N0.40 on Tuesday. Speaking about the development, Mistila Dayyabu, a BDC operator at Wuse Zone 4, urged the Central Bank to resume its supply of FX to the retail end of the market as a solution to the naira fluctuations.....Read The Full Story Here ▶
“The naira depreciated further to N1,520 per dollar from N1,500 on Monday. We are eagerly waiting for CBN to release additional FX intervention into the retail end of the market,” he said.
From February to April 8, 2024, the apex bank distributed FX three times to BDCs.
However, the naira returned to depreciation in mid-April.
During that period, it dropped by 28 per cent against the dollar.